/ciol/media/agency_attachments/c0E28gS06GM3VmrXNw5G.png)
Follow Us/ciol/media/post_banners/wp-content/uploads/2019/06/ACI-Worldwide-Strengthens-Real-Time-Payments-Capability.jpg)
Initially, if you had to receive payments from a client in the US, the options included Paypal, Bank transfers, IMTS and some local fintech solutions but Google Pay. Now, Google Pay users in India and Singapore can receive money from users in the USA. The company now includes remittance services in partnership with Western Union and Wise.
The company said, “For some, sending money back to their home countries is a regular activity. We are making it more accessible by adding it to the app that you use for your everyday money tasks. Working with Western Union and Wise, we’re now able to give those with family abroad a simple, safe and reliable way to send money abroad.”
How to send money via Google Pay?
To send money internationally, start by searching for the Google Pay user you want to send money to. Tap “Pay,” and select either Western Union or Wise. The app will display the exchange rate and the transfer fee while sending money. Further, the receivers in India/Singapore will receive the full amount. That is, the company has announced that it will charge the sender and not the receiver. From there, you simply follow the steps to complete the payment.
From now until June 16, Western Union will offer unlimited free transfers when sending money with Google Pay, and Wise will make the first transfer free for new customers on transfers up to $500. Google also announced that it plans to expand this option to 200 countries by the end of the year. “By the end of the year, we expect that US Google Pay users to send money to people in more than 200 countries and territories through Western Union; to more than 80 countries through Wise,” the company said in a statement.
Google pay's expansion to international transactions is a power booster against PhonePe, Paytm and PayPal. In fact, the major battle here is with PayPal. Paypal hasn't been able to reap the first-mover advantage due to its inability to accept Rupay cards.